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But that vote was lost, as all coalition MPs, the five Greens and the Sex Party had the numbers to elect Liberal Bruce Atkinson to continue in the president's role.

Ms Tierney was then elected deputy.

In the lower house, Labor member for Tarneit, Telmo Languiller, was endorsed as Speaker of the Legislative Assembly while the Labor MP for Melton, Don Nardella, was chosen as deputy.

Mr Laguiller, a migrant from Uruguay, is the first Latin American member to be elected to any parliament Australia.

The first piece of legislation introduced was Labor's Back to Work bill, a plan to grow industries and help create full-time jobs for the unemployed.

The plan includes giving employers financial support to hire unemployed youth, the long-term unemployed and retrenched workers.

The latest state budget update was also tabled, and showed that almost $1 billion has been wiped from surplus forecasts over the forward estimates.

The changes are mainly due to lower GST revenue and more money needed to pay for prison and youth justice beds, according to the 2014/15 update.

It includes funds to kickstart Labor election pledges, including $40 million for an Australia-first royal commission into family violence and $166 million for Labor's plan to create 10,000 jobs through projects such as removing 50 of Melbourne's worst level crossings.

Treasurer Tim Pallas says the new Labor government will fund all its election pledges without affecting the surplus.